NAME: Susan Finbow
NEW JOB TITLE: Toronto-based global head of FINEX financial institutions, Willis Towers Watson PLC
PREVIOUS POSITION: Toronto-based financial institutions industry practice leader, Marsh Canada
INDUSTRY OUTLOOK: I would anticipate the current rate increase environment will continue throughout 2020 and likely into 2021. However, unlike the last hard market, underwriters appear to be taking a more measured approach with the underwriting levers they have at their disposal – rate, limit, retention and risk selection.
GOALS FOR NEW POSITION: One of my short-term goals is to connect with existing and former clients to sense check our value proposition: What should we do more of? What should we do less of? What should we do differently?
CHALLENGES FACING THE INDUSTRY: The upward pricing pressure in the market continues to affect clients in all industries. However, there are a myriad of challenges faced by financial institutions clients consumer indebtedness; cybersecurity; stock market volatility; geopolitical uncertainty; evolving global regulatory landscape; and environmental, social and governance disclosure litigation, etc.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: My first experience in the insurance business was in the early 80s. I was hired as a summer intern in the finance group of an insurance brokerage firm.
ADVICE: The insurance business is a relationship business, and to be successful, you need to establish a network and foundation of trust with clients, colleagues and industry peers. How you interact with people really matters its not only a reflection of the person you are, it can also reflect on the organization you represent. I would add that its okay to be ambitious, but you need to balance that with competence, authenticity, patience and humility.
OUTSIDE THE INDUSTRY, A DREAM JOB: Journalism and investigative reporting have always been of interest to me.
COLLEGE MAJOR: I was enrolled in a Business Administration program in the early 80s, however, I decided not to return as the insurance brokerage firm that hired me as a summer intern offered me a full-time position. When I retire, I will go back to school and finish my degree.
LOOKING FORWARD TO: Since I started in my new role, we have been practicing social distancing. I am really looking forward to a return to normal operations so that I can get out and meet with clients and colleagues around the world. FaceTime and Skype are effective tools that we have all embraced during the COVID-19 pandemic. However, I look forward to the day when in-person meetings are possible once again.
FAVOURITE MEAL: Any kind of pasta, preferably in a red or blush sauce.
BOOK: Generally, biographies and non-fictions get my attention. Becoming, by Michelle Obama, and Red Notice, by Bill Browder, quickly come to mind.
HOBBIES: Right now, Im on a fitness journey, but I also enjoy cooking, baking, hiking and reading.
TV SHOW: I watch a few Billions, Succession and The Handmaids Tale, but I also enjoy nonsense reality shows The Housewives franchises are a great escape!
ON A SATURDAY AFTERNOON: Reading and taking long walks with my husband and our dog.
